SLS 15RS-834 ORIGINAL
2015 Regular Session
SENATE BILL NO. 279
BY SENATOR CHABERT
TAX/AD VALOREM. Requires the market approach to the valuation of the property of
barge line, towing, and other water transportation companies. (gov sig)
1 AN ACT
2 To amend and reenact R.S. 47:1853(B)(2), relative to appraisal of public service properties;
3 to require a certain approach to determine fair market value in the appraisal of
4 certain property; and to provide for related matters.
5 Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 47:1853(B)(2) is hereby amended and reenacted to read as follows:
7 ยง1853. Appraisal of public service properties
8 * * *
9 B. * * *
10 (2) However,:
11 (a) All public service properties of the same nature and kind shall be
12 appraised in the same manner. The appraised value of all lands owned by the
13 company in this state shall be deducted from the total appraised value of the public
14 service properties and shall be assessed by the Louisiana Tax Commission and
15 shown as a separate item on the tax roll.
16 (b) The Louisiana Tax Commission shall require every assessor to
17 uniformly utilize the market approach provided for in Item (1)(a)(i) of this
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 279
SLS 15RS-834 ORIGINAL
1 Subsection to determine fair market value in appraising the property of barge
2 line, towing, and other water transportation companies as defined in R.S.
3 47:1851(B).
4 * * *
5 Section 2. This Act shall become effective upon signature by the governor or, if not
6 signed by the governor, upon expiration of the time for bills to become law without signature
7 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
8 vetoed by the governor and subsequently approved by the legislature, this Act shall become
9 effective on the day following such approval.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Riley Boudreaux.
DIGEST
SB 279 Original 2015 Regular Session Chabert
Present law defines barge line, towing, and other water transportation company properties
as "public service properties". Requires the Louisiana Tax Commission to employ all of the
following nationally recognized techniques of appraisal, where applicable, in appraising
"public service properties" to determine fair market value:
(1)The market approach.
(2)The cost approach.
(3)The income approach.
The Tax Commission is further required to assign such weight to each approach as is
appropriate to best determine fair market value.
Proposed law requires the Tax Commission to require every assessor to uniformly utilize the
"market approach" to determine fair market value in appraising the property of barge line,
towing, and other water transportation companies.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 47:1853(B)(2))
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.